Triveni Turbine · tone and specificity signals across the available quarters.
Language signals
The performance of the company in the quarter gone by is disappointing. There are many reasons for that... Largely the disappointment in the decline in sales was due to deferment of orders because of conflicts that have happened between in the Middle East, Israel, Iran as well as with India's conflict with Pakistan.
The 17 quarters of growth of the company—this chapter and our growth is on pause. The longer-term story of the company stays very much intact.
We hope that there's no more situation where a conflict situation can arise in India which directly impacts a customer interaction perspective, so we think that from a customer interaction perspective seems to have subsided that is no longer a concern in going into Q2 Q3 Q4.
The growth for financial year FY26 will be back-ended Q3 and Q4 will represent higher growth rates in terms of revenue but this is a reflection of two things one is the order book that we have at that point in time and the execution that the customers demand.
The inquiry base remains quite resilient and robust. We think in other markets in Europe and the energy transition market is actually performing well. We have even in this current quarter we've had very good order wins and I think that will continue.
Our strategy stays the same which is to be asset light and be nimble and dynamic. The uncertainty only reinforces our strategy to be the correct one.
This current quarter was impacted by a lower dispatch in the aftermarket which as you can see has impacted the overall margin for the company but we're confident that we will revert to our usual status in the quarters to come.
The US will add incrementally more to our order book given the fact that the tariff has come down. We think it will translate quicker than what we were assuming a quarter or two ago. If I look 2-3 years down the line, I feel that the US market should contribute meaningfully to both top line and bottom line.
Inquiry finalization is taking longer. The main underlying reason is that there's a lot of uncertainty out there. You have a clear push towards more energy-intensive infrastructure both from data centers as well as metals and mining that require it. Our confidence is coming from the fact that our inquiry books and our conversation with customers is leading us to believe that demand exists.